Regional Economic Development Fund (REDF)

What is the Regional Economic Development Fund?

The Regional Economic Development Fund is an initiative that aims to help businesses to promote economic development in all regions of the Northern Territory.

Funding

The Regional Development Fund provides funding of up to 50% of project costs.

Eligible Projects

Your project must have at least 50% financial or in‑kind support from yourself or other partners.

This includes funding sources such as the Australian Government, private or philanthropic organisations.

Your project should include some or all of the following:

deliver practical on-the-ground projects with tangible outcomes
be delivered by local people
provide sustainable local employment
support local partnerships and collaboration
deliver local infrastructure to create new economic opportunities and business growth
encourage increased investment in the region
improve regional capability.

You can’t apply for funding for any of the following:

recurring maintenance or operational costs of facilities such as rent, service charges or administration
retrospective funding or outstanding debts for a completed project
fundraising, promotional or charitable events
wages and salaries.

Eligible Applicants

To be eligible, you must be either:

an incorporated body and/or legal entity
a local partnership between private enterprise organisations, or
a not-for-profit community organisation / group or local government based in the NT.

Individuals or individual businesses may be accepted if they can demonstrate significant economic development benefit to the region.

Timing

The grant is no longer available.

More Information

Source

Latest News

06 April 2022 – Marine Biomedical awarded $200,000 grant to manufacture Pearl-Based Bone Substitute

A medtech company using pearl to create a promising bone substitute product is among seven companies awarded funding through the Western Australian government’s Regional Economic Development program. A total of seven Kimberley region projects were awarded a total of $773,000 through the program’s fourth round.

Marine Biomedical was awarded $200,000 to help establish a laboratory to produce “PearlBone”.

Marine Biomedical was established through a partnership between pearling business Willie Creek Pearls and UWA’s Medical School, with support from Orthocell.

Other grant winners include daycare operator Frillnecks Enterprises and indigenous-owned construction enterprise MGC Building and Maintenance. Lakeside Minerals Livestock was awarded $150,000 to manufacture stock supplements for the region’s pastoralists.

Source

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